Factors that Affect the Car Insurance Premium

11-02-2015 / admin / 0

Every auto owner must buy Car Insurance because it is mandatory. Vehicle insurance is considered as an essential expense every year. If the person is planning about getting his or her vehicle covered, he or she needs to consider various facts like who gives the plan with affordable premium, which insurer provides the best policy and are there any add-ons come with the insurance.

Below are some of the factors which affect the online motor insurance premium:

Purpose of Vehicle

Auto owners should know that commercial and/or personal purpose of vehicles impacts the premium amount. Those who are using their vehicles for the commercial purpose may rate higher as compared to those who are using their cars for personal purpose.

Comprehensive Package

Know whether the auto insurance plan India offers coverage for damages and collision.  A comprehensive cover is necessary in case your vehicle is brand new. But, if your vehicle is older, then it might not be worth it.

Car Model

The vehicle for which a person is buying online car insurance India is an expensive sports car or fancy vehicle, then the premium rate will be high. In fact, imported vehicles are also insured at higher premiums. You will definitely save some handsome amount of money if you prefer least liability coverage to insure your vehicle. But, it is sensible to have more than the minimum available cover because of the unseen risks related to the future.

Location of the Registration

The registration location plays a key role in finalizing the insurance rate. Indian has been separated in the following zones:
Zone A: Mumbai, Delhi, Pune, Ahmedabad, Kolkata, Hyderabad, Bengaluru and Chennai
Zone B: The rest of the areas in India
The insurance rates in the Zone A areas are more expensive as compared to the ones in Zone B.

Vehicle Engine and Seating Capacity

Premium rates are finalized by the seating capacity and vehicle engine. So, consider this fact while purchasing online Car Insurance policy in India.

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